As the Strait of Hormuz Reopens, Global Shipping Will Take Months to Recover

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As the world held its breath on Tuesday night, news of a ceasefire and the potential reopening of the Strait of Hormuz brought a collective sigh of relief. But with shipments stalled in the strait for over a month, the disruption to global shipping will not resolve immediately.

“Traffic through Hormuz dropped by about 95 percent [during this conflict]. As a result, prices surged, and not just for crude oil but also for refined products like jet fuel, diesel, and gas oil,” says Carsten Ladekjær, CEO…



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As the Strait of Hormuz Reopens, Global Shipping Will Take Months to Recover


As the world held its breath on Tuesday night, news of a ceasefire and the potential reopening of the Strait of Hormuz brought a collective sigh of relief. But with shipments stalled in the strait for over a month, the disruption to global shipping will not resolve immediately.

“Traffic through Hormuz dropped by about 95 percent [during this conflict]. As a result, prices surged, and not just for crude oil but also for refined products like jet fuel, diesel, and gas oil,” says Carsten Ladekjær, CEO…



Source link

Disclaimer

We strive to uphold the highest ethical standards in all of our reporting and coverage. We StartupNews.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It’s possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.

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